The cost of an item of property, plant and equipment is only recognised if the cost of the item can be reliably measured and:
A) it is not directly attributable to the asset.
B) it has been paid for in cash.
C) the item has been received by the acquirer.
D) it is probable that future economic benefits associated with the item will flow to the entity.
Correct Answer:
Verified
Q3: Revaluations under AASB 116 Property,Plant and Equipment
Q5: Which of the following statements is NOT
Q8: Replicator Limited acquired an item of plant
Q10: Use the following information to answer this
Q11: Jackson Limited acquired a bundle of assets
Q12: The cost of property, plant and equipment
Q13: Troubadour Limited had an existing revaluation surplus
Q14: Use the following information to answer this
Q18: Property,plant and equipment includes items that are:
A)intangible
B)held
Q19: AASB 116 requires disclosure, for each class
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